Chennai: Germany has shown an interest in executing and giving a loan for the Chennai-Bengaluru bullet train project. Discussions are in initial stages but they are likely to agree to the way the Japanese are doing it,” an official said.
Japan has offered a loan of Rs 88,000 crore at a minimal interest of 0.1 per cent, for the Rs 1 lakh crore Mumbai-Ahmedabad bullet train project, which can be repaid in 50 years.
Last year, in October, India & Germany signed a deal on bilateral cooperation in the railway sector.
Germany is expected to look at the possibility of a bullet train & increasing the speed of trains on existing routes to 200 kmph, according to the pact.
In order to increase the overall speed of Indian trains, the railways ministry has made a multi-pronged strategy.
The official said,“The Railway Board’s plans include running high-speed trains (with a speed of more than 300 kmph), semi high-speed trains (with a speed of 160-200 kmph), and increasing the average speed of the existing trains.”
The Chennai-Bengaluru high speed rail project is likely to cost Rs 70,000 crore – 80,000 crore.